Deal management is the process that your sales team uses to guide prospects through the sales pipeline. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sale marketing to ensure that your clients are happy.
Deal management is an excellent way to improve the efficiency of your team, improve practices and increase conversions. You’ll need to start by reviewing your current sales processes and identifying areas to improve. Then, you can create internal procedures, playbooks, or checklists that are specific to your investment process.
Benefits of focusing on deal management include
Sales pipeline visibility enhanced -Instead of tracking their progress on disparate spreadsheets or in emails, your team can collaborate in real-time in one secure place to manage their deals. This allows them to decide which deals to prioritize based upon signals from the entire pipeline.
Increased efficiency — By automating and reducing the process of moving deals forward your sales team can spend less time on admin tasks and spend more time on more valuable activities. By using a solution to automatically notify the person involved in the handover, you can reduce the amount of time spent on manual tasks as well as the risk of missing important details.
Better performance monitoring — The analysis of deal data can provide light-bulb moments for your teams on how to improve their performance at different stages of the investment process. For instance, if notice that your company is losing deals because of poor pricing, then you can use a solution to help you improve discount levels.